Oddz x Satoshi Club AMA Recap from 16th of September
Hello, Satoshi clubbers! Another AMA took place in Satoshi Club and we would like to introduce to you the AMA session with our friends from Oddz and our guest was @Aishwarya_hs. The AMA took place on 16 September
The AMA session was divided into 3 parts with a total crypto reward pool of 500$
In this AMA Recap, we will try to summarise the most interesting points for you.
Part 1 — introduction and questions from the Telegram community
Gold Rocket | Satoshi Club: Hello again, dear Satoshi Club community! We are pleased to announce AMA with Oddz
Today our guest is @Aishwarya_hs
Aishwarya Shivakumar || Oddz: Hello everyone, Hope all of you are doing good:)
Gold Rocket | Satoshi Club: Hello and welcome to Satoshi Club! Nice to e-meet you
We are really excited about upcoming AMA with you. And how are you?
Aishwarya Shivakumar || Oddz: Thanks for having me here today
Andrés M. | Satoshi Club: Is a pleasure for us
Iam doing great, thanks
Gold Rocket | Satoshi Club: Thanks for joining
last time you were with us in February. I think you have news since then. but first tell a little about yourself
How did you get to be involved in crypto & Oddz
Tell us please about your position in Oddz
Aishwarya Shivakumar || Oddz: Yes last time, Our CTO was here and this time its me;)
Happy to introduce myself and tell you more about how oddz started.
Gold Rocket | Satoshi Club: Yes we had really good fun last time
Andrés M. | Satoshi Club: Yes, Satoshiclubbers let’s remember a little bit about that past AMA https://esatoshi.club/oddz-x-satoshi-club-ama-session-22-feb-2021/
Aishwarya Shivakumar || Oddz: I worked in a few tech startups as a product and marketing Lead in Bangalore.
Coming to my experience in crypto, I was a very active trader in both the stock market and crypto market for the last 3 years,
Gold Rocket | Satoshi Club: Great background
Aishwarya Shivakumar || Oddz: In 2019 i started to explore more about options trading platforms and traded in most of the platforms.
Gold Rocket | Satoshi Club: So…. Give us a brief introduction to the project. What is the essence of Oddz
Aishwarya Shivakumar || Oddz: As a trader, I understood the pain points which restricts a lot of users from utilizing on-chain option trading platforms effortlessly
that’s when Oddz started along with my Co-founder who has 10+ years of experience in Web development and 2 years of experience in Blockchain space.
Aishwarya Shivakumar || Oddz: Oddz Protocol is a derivatives trading platform that expedites the execution of call and put options contracts, conditional trades, and futures. It allows the creation, maintenance, execution, and settlement of trustless option contracts, conditional tokens agreements, and futures contracts in a fast, secure, and flexible manner.
It employs the synergies of Ethereum, Binance Smart Chain, Polygon and Polkadot to unleash the potential decentralized derivatives market. It focuses on building solutions that can propel the DeFi ecosystem by simplifying derivatives trading and enhancing the user experience.
Andrés M. | Satoshi Club: What do you mean with conditional tokens?
Gold Rocket | Satoshi Club: what has happened to you since our last meeting with Oddz in February?
Aishwarya Shivakumar || Oddz: conditional tokens can be created for any events that will have a definite outcome that is bound to the time, so in our platform users can predict the outcome of any event such as BTC price in next 7 days, Who will win the next FIFA worldcup etc etc
Lot and lot has happened ever since February
Andrés M. | Satoshi Club: Innovative concept, later we can talk more about it
Aishwarya Shivakumar || Oddz: We did our IDO on march with polkastarter, we completed our testnet on both BSC and polygon networks and finally we launched our mainnet on BSC network
Gold Rocket | Satoshi Club: Congratulations
Aishwarya Shivakumar || Oddz: Now users can finally trade Options on Oddz platform — https://app.oddz.fi/
Andrés M. | Satoshi Club: Well, thank you so much for the exciting introduction, we can’t wait to learn more about the project through our community questions
Let’s check it Satoshiclubbers
Aishwarya Shivakumar || Oddz: Yes, Looking forward
Andrés M. | Satoshi Club: Ok, let’s proceed
Gold Rocket | Satoshi Club: Wow! It’s important milestone
Q1 from Telegram User @Lestmarisv13
Oddz employs the synergies of Ethereum, Binance Smart Chain, Polkadot, Polygon, and Chromia to unlock the potential of the decentralized derivatives market. It focuses on creating solutions that can power the DeFi ecosystem by simplifying derivatives trading and improving the user experience. What kind of solutions do you estimate to provide for the solutions of some of the DeFi problems? How will you simplify derivatives trading?
Aishwarya Shivakumar || Oddz: We employ machine learning, present market conditions on a specific day/week along with user’s past history to recommend an easy options
That should enable a user without much experience in options trading to get used to it.
For advanced users, we have a customized options section where a high degree of customization is possible.
For people who don’t want to spend the real money but want to learn and then earn, there is a virtual trade section.
We also have a social trading section where people can follow fellow traders on our platform and simply follow other’s strategy.
Gold Rocket | Satoshi Club: you have thought of all categories of users. this is very commendable. do you have any newbie guides?
Aishwarya Shivakumar || Oddz: Reason behind this gamification is to ensure we will have a high adoption rate and make options trading very much understandable and accessible
For newbies, We are working on Oddz Academy — https://medium.com/oddz-finance/defi-and-derivatives-trading-made-easy-oddz-finance-launches-oddz-academy-3460ae57fc17
That’s highly useful before invest
Gold Rocket | Satoshi Club: Thanks for sharing
let’s check, Satoshi Clubbers
Andrés M. | Satoshi Club: What kind of topics do you teach there? Will be there more guides in the future?
Aishwarya Shivakumar || Oddz: There will be separate sections for 1. DeFi( basic to advance explaination of DeFi) 2. Derivatives(Options trading, perpectual, Futures, Conditional tokens etc) 3. About Oddz protocol(Explainations about Oddz platform)
All these sections with video tutorials
Andrés M. | Satoshi Club: Thanks for the info, very interesting. Now, let’s proceed with the next question
Q2 from Telegram User @Pavel_Jarosh
After an initial DEX offering that was held on Mar. 18, 2021, the price for 1 token has constantly been decreasing (especially in May-June) losing around 80% out of the initial value. How could you explain the reason of such behaviour? Is it because the market has been hot recently or this might be a result of gradual tokens’ distribution throughout the year and you were forecasting the drop?
Aishwarya Shivakumar || Oddz: I would say its the former reason. Market’s TVL had a sudden decline due to the FUDs created
Slowly most of the tokens are recovering and so us
If you see the bottom, we bounced back nearly 100% from the ATL and we are not far away from reaching the similar state we were at in March-April.
Andrés M. | Satoshi Club: Have you apply any burning token event to increase the value of the token? How did you reach this pump?
Aishwarya Shivakumar || Oddz: We never had any buy backs until now. Soon we will be starting with buy back programmes. We had a mainnet launch on BSC and our protocol started to generate the transaction fee that will be used to buy back tokens from the market and distribute them as rewards to the community
Gold Rocket | Satoshi Club: Thanks for the clear answer! Please remind us about your tokenomic.
Andrés M. | Satoshi Club: [
Aishwarya Shivakumar || Oddz: We mainly focused on our developement during the May-june period, focused on getting listed on exchanges, re initiated the marketing plan on spreading more awareness on oddz protocol and these resulted in a nearly 100% pump.
Sure, here is the link http://bit.ly/30lJ7VX
Gold Rocket | Satoshi Club: it is a competent and consistent approach
Thanks for sharing!
Q3 from Telegram User @victorogb
Oddz finance had a successful project campaign in the month of August. As stated, you were able to launch your testnet on Polygon, carried out trading competition, announced partnerships with Konomi and completed smart contract audits. As these events were vital to project growth, can you talk on some of them, how has your testnet on Polygon been so far, when should we expect the Mainnet launch, how has your partnership with konomi been, how is it of benefit to both parties and what sort of partnership should we expect from Oddz this month? Also, as events & competitions are key to your project’s growth, what major ones are outlined in coming weeks & months?
Aishwarya Shivakumar || Oddz: Wow, I am sure @victorogb did a great background work for this question.
Let me answer this in a part by part manner. Regarding polygon testnet here is the stats: We have successfully completed the Oddz Incentivised Testnet program on Polygon Network.
Participants : 12,000+
option trading volume: $2,537,548,498
options bought: 13,601
options exercised: 2,130
options expired: 11,360
staking rewards distributed: 290k ODDZ
We just had a mainnet launch on BSC earlier this week and here is more details regarding the same:
ODDZ MAINNET CARNIVAL
Win Up To $50,000 worth $ODDZ tokens in Oddz Mainnet Carnival
After a year of planning and testnet launches, we are happy to announce the launch of Oddz Mainnet on Binance Smart Chain on September 13th, 2021!
Oddz Mainnet launch on Binance Smart Chain on September 13th, 2021.
Win Up To $5,700 every week during Oddz Mainnet Carnival
More details on Airdrop of $27,200 in $ODDZ tokens to be announced soon!
Aishwarya Shivakumar || Oddz: [Forwarded from Oddz Official Announcements]
It’s a Great and Impressive Opening
We are Now Live on BSC Mainnet
Oddz is elated to announce that
1M+ $ODDZ & 250k+ USDC are already locked on Oddz Mainnet in just 3 hours
Stake your oUSD and $ODDZ tokens on Oddz to get some juicy APY
Stake $ODDZ Here: https://app.oddz.fi/options/staking
Provide Liquidity: https://app.oddz.fi/options/liquidity
Read more: https://bit.ly/3lkaqdx
Kudos! Keep Trading.
Aishwarya Shivakumar || Oddz: This is in just 3 hours of launch
Gold Rocket | Satoshi Club: Amazing
Aishwarya Shivakumar || Oddz: coming back to the partnership, we will be focusing more on integration front. We will enable insuring the user’s position from user wallet dApps, and from various decentralized exchanges going forward rather than strategic partnerships
Andrés M. | Satoshi Club: Congratulations excellent milestone
Gold Rocket | Satoshi Club: you did an incredible job
Don’t miss great opportunity Satoshi Club
Aishwarya Shivakumar || Oddz: We already made quite a few partnerships and the integration will take place in next few weeks. You will see Oddz on more and more platforms soon
Gold Rocket | Satoshi Club: I don’t even doubt it! you fly like a rocket to the moon
Andrés M. | Satoshi Club: Do you have any staking/farming program?
Aishwarya Shivakumar || Oddz: yes, there will be a juicy APYs throughout this month for liquidity providers and for users who stake oddz tokens
Aishwarya Shivakumar || Oddz:
[Forwarded from Oddz Official Announcements]
APY is still juicy, Don’t miss a chance
Provide Liquidity and Stake oUSD, Stake $ODDZ and Earn Rewards
Enjoy 1205%+ APY by providing liquidity on Oddz Platform
Provide Liquidity here: https://app.oddz.fi/options/liquidity
111%+ APY for Oddz Staking is also live
Stake $ODDZ here: https://app.oddz.fi/options/staking
Enjoy all the perks
Read More: https://bit.ly/3lkaqdx
Andrés M. | Satoshi Club: Wow high APY, don’t lose this opportunity to invest Satoshiclubbers
Gold Rocket | Satoshi Club: Great thanks
Q4 from Telegram User @DK177
Explaining the reasons for choosing Oddz, you have mentioned that you have zero gas fees. Does this mean that we don’t have to pay any extra fee when performing withdrawals? Can you please explain how did you develop a model to offer zero fees? Further, please let us know about your platform related fees if there are any. I am asking this because there is no use of the feature of zero gas fee if you have imposed any other fees.
Aishwarya Shivakumar || Oddz: Will explain this one by one — 1. Zero gas fee explaination -we submit our smart contract to a relayer network which uses native meta transactions to execute transactions with minimal gas fee, where Oddz will cover the gas fee so technically users will not be paying any gas fee.
Here is the detailed explanation: https://medium.com/oddz-finance/oddz-protocol-introduces-zero-gas-fees-transactions-to-drive-widespread-defi-adoption-21eb7bae5e33
There will be a protocol transaction fee when users buy options,
Similar to the way Amazon gives discounts for prime customers, we want to make sure users who trade regularly on Oddz platform will have a way to get discounts in the protocol transaction fee.
Gold Rocket | Satoshi Club: this is a very good detailed article
Andrés M. | Satoshi Club: Thanks for explain it, it was a very common question, about how you provide zero fees
@Aishwarya_hs would you like to add something before the next question?
Aishwarya Shivakumar || Oddz: If there are any more queries regarding zero gas fee, please feel to ask
Andrés M. | Satoshi Club: @GoldRocket27 any additional question about it?
At the moment is clear for me
, I think we can go, 5th question is knocking the door
Time to talk more about an interesting product of Oddz mentioned at the beginning
Gold Rocket | Satoshi Club: Everything is clear to me! The answer was flawless
Andrés M. | Satoshi Club: Indeed
Q5 from Telegram User @Jmagsss
One interesting feature/product that Oddz Finance will be offering had caught my attention is your upcoming “Conditional Token”. It allows users to create and trade tokens based on any events that will produce a definite outcome like elections, sports and many more. Only limited information are available for this feature on your website, so can you explain to us here, how will your Conditional Markets and Token work? Will it be like a betting site where the outcomes will always fall in either a win, lose and or a draw? How can users profit from this token? Also, when do you plan to release this product?
Gold Rocket | Satoshi Club: Partially answered. But I think our guest has something to add
Aishwarya Shivakumar || Oddz: Yes, we rather call it a prediction market where people can buy either a Yes token or No token for any event. Users can themselves create questions
Based on the outcome of the event (protocol will verify the outcome from the trusted oracle) and winner’s token value will double as the loser’s token will lose its value
more on this will be updated soon on the website as we are revamping our website along with more details on Options, Perp, and conditional tokens
Gold Rocket | Satoshi Club: when do you plan to release this product?
Andrés M. | Satoshi Club: And could you share us your roadmap? What other interesting product or event do you have prepared for the near future?
Aishwarya Shivakumar || Oddz: This quarter we are focusing more on integrations front. Vision is to ensure Oddz will be used as a insurance product for anyone buying/selling ETH/BTC on various products
post that, we will release the Perp, and conditional tokens. I would say later this year we will have all these products ready to be on mainnet
Gold Rocket | Satoshi Club: Thank you very much for sharing
Aishwarya Shivakumar || Oddz: Updated roadmap will be shared soon:)
Andrés M. | Satoshi Club: We will be waiting for it. Don’t forget to share it with our community
Aishwarya Shivakumar || Oddz: Definitely
Andrés M. | Satoshi Club: Thank you so much. Time to go with the final question of this first part of the AMA
Aishwarya Shivakumar || Oddz: I think I have answered this earlier,
There will be guides, tutorials, videos etc
From basic to advanced explainations.
For now the content will be in English, in future we can plan for different languages based on the requests.
Academy is absolutely free for all our users:)
Yes, partially covered and thanks for disclose it
Gold Rocket | Satoshi Club: it is a very noble task to raise the level of education of users
Andrés M. | Satoshi Club: That makes 6/6 questions answered, great job
Gold Rocket | Satoshi Club: Now get ready for the most impressive part of our AMA! Live questions!
before that if you want you can share useful links with our community
Aishwarya Shivakumar || Oddz: Website: https://oddz.fi/
Telegram Chats: https://t.me/oddz_finance
Telegram Announcements: https://t.me/oddz_fi_announcements
Gold Rocket | Satoshi Club: Thanks!
Part 2 — live questions from the Telegram community
Q1 from telegram username @SHELBYWINAMA
What does the name ODDZ mean? is there a story about that name? And what is the main reason you named ODDZ for your project? Is ODDZ a person’s name? Can you tell me?
Aishwarya Shivakumar || Oddz: Oddz is the definition for opportunities and growth
Since options and derivatives are more of opportunities for growing ones portfolio by either speculation or hedging their positions, we named it Oddz
Q2 from telegram username @doithay1617
What will be the next Chain after Polygon testnet and BSC mainnet?
Aishwarya Shivakumar || Oddz: Our next chain will be on ethereum then Avalanche and solana
Q3 from telegram username @Zohaya
What are the benefits of staking and mining liquidity? Is there a maximum amount we can stake to receive rewards?
Aishwarya Shivakumar || Oddz : https://medium.com/oddz-finance/how-to-earn-by-providing-liquidity-on-oddz-d7a945832b0d
Q4 from telegram username @Tahsinahmetteth
Have you done the Oddz smart contract audit? Can you share with us?
Aishwarya Shivakumar || Oddz :
Oddz completes its auditing from two leading Security firm PeckShield and Slowmist.
Audit report by PeckShied,
Read here: https://bit.ly/3g4pUkf
Audit report by Slowmist
Read here: https://bit.ly/3AuGJfV
Q5 from telegram username @ethcyberpunk
What kind of oracles are you using in oddz? one built by yourselves or do you use a third party like chainlink?
Aishwarya Shivakumar || Oddz : For now, we are getting price feed from Chainlink — https://oddz-finance.medium.com/oddz-to-integrate-chainlink-implied-volatility-data-feeds-7371155ee23
Q6 from telegram username @Einsteinyl
You have create $ODDZ token but I’m still not fully understand about how the function of that token. Kindly to mention in here all the usecase of your token? What the benefit by HODL them?
Aishwarya Shivakumar || Oddz : The $ODDZ token holders represent an integral part of the Oddz ecosystem, thus voting on various decisive moves and proposals for the protocol’s growth. Moreover, the primary motive of Dapps is to fuel the decentralization of authority; thus, the community holds a substantial bar in driving this.
Transaction fees: Platform users can employ an $ODDZ token to facilitate transactions in a seamless manner.
Staking: Users can stake $ODDZ tokens on the Oddz protocol in an attempt to earn higher yields, thus maximizing returns. Tech-savvy traders also employ various yield farming strategies to earn greater returns.
Governance: Users can strongly support or disregard protocol proposals through community votes depending on the rationality of the same.
Referral bonus: If the user extends the platform’s support by spreading the word, they are entitled to referral bonuses.
Q7 from telegram username @AgenciaATM
What would be Oddz Finance’s mission for the financial future? What do you think could be the greatest achievement of this platform? Tell us a little about it
Aishwarya Shivakumar || Oddz :when it comes to DeFI and derivatives, we want to be the RobinHood
meaning, we want to make sure, we build the softwares for users ranging from Novice to Experienced both in terms of innovation and user experience
cover both the retail and institutional users
Q8 from telegram username @KevSalom
️ How does the Oddz platform calculate our profit on each trade or premium? What things influence our winning percentage? The liquidity of the pair? The type of market?
Aishwarya Shivakumar || Oddz: Generally any options premium is calculated by any of the popular mathematical model.
We use Black scholes model and there will be a provision for changing this price model to anything else such as binomial model.
Implied volatility for the underlying asset, Current price, Expiry and Strike price are the driving factors of this models. Since we use the same formula while the user is buying as well as selling/exercising the options, it will be highly transparent.
Q9 from telegram username @jazzmusic2000
What are the reasons that led you to choose Binance Smart Chain as the framework to build Oddz? What features does this chain have that make it ideal for binary options?
Aishwarya Shivakumar || Oddz : As we are already aware of, transaction gas fee on Binance smart chain is way cheaper.especially with relayers, it becomes even cheaper
Like all the centralized exchanges, there will be a small protocol transaction fee that we collect from users when they trade. So we will use this protocol transaction fee to compensate the user’s gas fee
Q from telegram username @mobilejii
Have you raised any funds in the past? How successful is your project and any Audit been done for investor Trust and security?
Aishwarya Shivakumar || Oddz : https://oddz-finance.medium.com/oddz-finance-raises-2-6m-5bce118f231b
Part 3 — Quiz Results
As usual, for the third part, Satoshi Club Team asked the chat 4 questions about the crypto project. A link to a Quiz form was sent into the chat.
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